What do you guys think? Does that sound like a reasonable strategy? Is there anything else I need to consider?
Thanks :-)
I don't think that a reverse DCA method is the best approach to profit taking. You seem to have a fixed price when you want to start taking profits. Why not just take all the profit you want to have and enjoy it? Spreading out your coin selling over a longer period of time implies that you expect a still rising price of which you want to participate. Why not keep your coins longer than? The thing with reach new ATHs is that many people want to take profits. Especially with a new milestone like 100k I would expect many people to sell some, which should lead to falling prices in the week afterwards.
That's not necessarily a bad idea because as we all know bitcoin is unpredictable, no one can know where the bottom or top is. But everyone doesn't want to miss out on buying the lowest price and selling the highest price, and that's why people think the DCA strategy is the best. And I also find it quite interesting to use reverse DCA like OP to take profits.
Each person has a different mindset and investment strategy. As long as we feel satisfied with our plan, we should carry it out without concern or criticism of others. Because there is no guarantee that our plan will be better than theirs and there is no guarantee that we will make more profit than them.